The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-11-18

6 5-l6c; cut-loaf and crushed &c; powdered,
6sc; cubes 81 06sc. Moasses quiet. Rice
firm.
Talow firm Rosn steady at s1.O7i oils
Eggs in fair request and firm; receipts, ], 12S
packages; Western, II 024c.
Pork quiet firm and unchanged Cut meats
firm picked hams, 93c; picked shoulders, &C.
Lard a points higher. and more active: West
ern steam. spot, z25c; December 10 81 13c;
January, 7.02G7. Zoe; February. 709O7 Ice;
March, Z15 I2lc; May, 7.26 a 7.34c; city steam
G. 90c.
Butter firm and quiet Western, Is 2Sc;
Western creamery, 1702Sc Cheese quiet and
unchanged.
CHICAGO, Nov. 1.-The battle in the pits
to-day seemed not to be SO much between bulls
and bears between bulls selling to realize and
corn. and almost everything else for a still
further advance. The contest was exciting, and
final results were decidedly mixed. Tonight
wheat shows advance of &c over yester
days close. while corn and pork have declined
sc and 20c respectively. Wheat closed not far
from the highest point of the day. pork and corn
nearly at the bottom. When the board opened
the indications were that. contrary to the usual
experience, the boom which was the feature OF
the closing markets yesterday, would be contin-
ned to-day. Nearly all of the conditions seemed
to poitt in this direction. Cables came in
strong and higher grains, and the stockyards
market for hogs was 10c higher, in spite of the
fact that 49, 900 hogs were received. December
wheat opened unchanged from yesterday, at
75ac: May 4c higher at Size. These prices were
improved on slightly in the first ten minutes
trading, but the disposition of the crowd to take
profits was too strong, and the load that came
the markets took December wheat down to
753c. This temporary appearance of break
was wiped out within few minutes. high
bull fever was "on," and there seemed to be no
such thing as stopping it. Big traders threw
large quantities of stuff into the pit, but the ca
pacious Of the market eulped it down
and opened wide for more. From 75ac for De-
cember wheat there a regular and steady
bulge to I6sc, and after that point 1t settled
back to 764c The advance in wheat was stimu-
lated by heavy covering on the part of some OPP
orators, and common report is that they paid
something like &c more for the property than
they sold it for few days ago. The fact taat
such large shorts" were in was considered by
many the weakest feature OF the market. In
fact, after they finished buying there were fur
Their declines all around, wheat dropping 20 75sc,
exactly the opening figure Others attributed
the decline to the weak feeling due to the down
ward movement in corn and pork. Whatever the
cause there was a reaction, and wheat went to
76sc December and S2gc May, the closing prices,
which were within small fraction OF the days
top figures. The corn market appeared to be in
rather overfed condition. and if. as there are
plenty of people to believe. 1t is going long
to digest the advance already gained. The
volume Of business was as large as yesterday.
and the market was sensitive enough to show
wide fluctuations under the influence of
preponderance of buying or selling orders. The
opening at 451c for Decem Der, 45sc for Janu-
airy and 491e for May. Under realizing sales of
long" corn, It Tell, during the early Jradlne. TO
454c for December, 451 a 45sc for January, and
45c for May. There reaction to 45sc for
DeceIn Der, Acc for January and 49sc for Nav.
Then began a rush to sell There said to
be unlimited amounts of May for sale at
SOC, and when the price came near to the selling
figure there were enough who shaded it little
to start prices the down grade again, and
they dropped steadily until December touched
Asc, January 442c. and May 463 04Ssc There
was another rally before l P. NJ, but only after
the board prices vent off aud closed at "A SC
December and 1880 May. The oats market had
considerable attraction for traders to-day, and,
while speculation again con-
fined almost exclusively TO the Nav future,
it was large in that; heavy purchases by prom
inent dealer stiffened the market against the
weak tone developed in corn. This evening,
May is 30ac. exactly the same as twenty-four
hours ago. Provisions were excited. and
settled feeling prevailed Receipts of hogs were
larger. but prices higher. The advance, how
ever. had effect on the market for manufact-
ured products. Corn broke. and holders of
pork. lard aud ribs who have been instrumental
in advancing prices began to realize Although
there good miscellaneous buying. the selling
proved too heavy. A decline of 322c on pork,
.07 lard, and 15c short ribs was recorded.
A reaction followed, and at 10 o'clock pork was
only 12A a 15c and lard and short RIBS .02a q 05c
lower than yesterdays last sales. In the later
dealings lard renamed unchanged, and closed
.02ac lower than at p. NJ while pork lost enough
to make the decline from the day previous 25c
for January. The leading futures ranged as